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- Key Points:
- Aim: To finance residential rooftop solar systems under the Pradhan Mantri Surya Ghar Yojana (PMSGY).
- Loan Amount: Up to Rs 6 lakh.
- Interest Rate: Starting at 7% per annum, with both fixed and floating rate options.
- Income Documentation: No documentation required for loans up to Rs 2 lakh.
- Margin Contribution: 10% for loans up to Rs 2 lakh, 20% for loans above Rs 2 lakh.
- Collateral: Loans are collateral-free.
- Repayment Tenure: Flexible repayment tenure of up to 10 years.
Question:
1 What is the primary aim of the MoU signed between Tata Power Renewable Energy Limited (TPREL) and Bank of Baroda?
- A) To provide loans for electric vehicle (EV) charging stations
- B) To finance residential rooftop solar systems under the Pradhan Mantri Surya Ghar Yojana (PMSGY)
- C) To fund large-scale solar power plants
- D) To offer financial assistance for wind energy projects